The Government of Hong Kong has welcomed the Fraser Institute’s ranking of the city as the world’s freest economy, based in part on its commitment to low taxation.
Out of 157 countries and territories, Hong Kong and Singapore again occupy the top two positions. They are followed by New Zealand, Switzerland, UAE, Mauritius, Jordan, Ireland, Canada, and the UK.
Among the major areas of assessment, Hong Kong ranks first in “size of government,” “freedom to trade internationally” and “regulation.”
“The Government attaches great importance to Hong Kong’s economic freedom, and will strive to uphold the tradition of the rule of law and an independent judiciary, a small and efficient public sector, and a free and open business and trade environment, which are the cornerstones of Hong Kong’s economic success,” a spokesman said.
Filed under: Business and Economy, Financial Services, HK as a Financial Centre
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